Power Bank Business: Revolutionizing Portable Charging Solutions

This report examines the power bank business, highlighting its increasing necessity in today's world due to the prevalence of smartphones and the constant need for portable charging solutions. It identifies the market problem of users frequently running out of phone charge, especially professionals with limited charging time. The proposed business idea involves manufacturing technically advanced power banks with features like Wi-Fi, GPS trackers, and cameras. The report discusses the benefits of the idea, including low cost, multiple charging sockets, and compatibility with various brands. Challenges such as myths about power banks and concerns about overcharging are also addressed. The proposed direct sale business model aims to build strong customer relationships. Key success factors include customer satisfaction, product divergence, healthy business organization, and strategic planning. The feasibility of the idea is supported by the low production cost, advanced features, easy availability, and high product lifespan, concluding that the power bank business has the potential to be revolutionary and successful. Desklib provides access to similar solved assignments and resources for students.

THE
POWERBANK
REVOLUTION

INTRODUCTION
 Power banks are very necessary
devices in present times as they
help the phones to run
throughout the day.
 These are small and portable
powerful devices that stores
charge; this is after being
charged fully and can be used to
recharge phones (Bendell, 2017)
 These are useful for people who
get very less time in charging
their phone.

MARKET PROBLEM
 People who have to use their
phone a lot often face the
problem of their phone running
out of charge.
 Often the professionals who are
busy throughout the day get very
little time to charge their phone.
 Therefore they often search for
solutions that will help them
charge their phone on the go.
 Power banks are easy solution for
such problems.

OVERVIEW OF BUSINESS IDEA
 Only 2 people out 10 do not have
the so-called smartphones.
 A power bank is planned to be
manufactured which will be
highly advanced technically .
 The market for these power
banks will be very vast because
of the number of people using
smart phones.

Features of the Power Bank
 Wi Fi
 GPS tracker
 Camera
 Various designs, colors, and sizes

BENEFITS OF THE IDEA
 Low cost – Power banks are very
cost effective and does not
require a huge amount of money.
 Many sockets- A power bank has
many sockets such that it can
charge many phones at a go.
 All brands operation – The
advance and modern power
banks suits and serves all the
different kinds of brands we have
in the market.

BENEFITS OF THE IDEA
 Other than a smartphone alone,
a power bank can charge other
devices i.e. iPod, iPhone or
iPhone.
 Due to its size, a power bank is
very portable since it can be
carried in our handbags,
backpacks or pockets.

CHALLENGES FACED BY THE
BUSINESS IDEA
 Myths around power banks.
 Many people think these may
burst.
 Sometimes power bank harm the
mobile due to over charging.
 Power banks of low quality does
not last long.

PROPOSED BUSINES MODEL
 Direct sale business model will
be used.
 We will demonstrate the product
directly to our customers hence a
strong relationship is created.
 The seller will be able to meet
people from all demographics.

Success factors affection the
Business Idea
 Customer Satisfaction
 Product Divergence
 Healthy Business Organisation
 Strategic Planning

Feasibility of the Idea
 The power banks are not very
costly to produce.
 These power banks are packed
with features.
 They will be easily available to
the customers.
 Lifespan of the product will be
high.
 Therefore the products will be
very popular and the business
will be very successful.

CONCLUSION
 The power banks will be a
revolutionary product of present
times.
 It will solve the problem of
phones running out of charge.
 The newly advanced power
banks will serve a wide market
meeting all the desired benefits
that the customers are likely to
expect all the time.